HONG KONG and AMSTERDAM, Oct. 25, 2016 /PRNewswire/
-- CK Hutchison Holdings Ltd. ("CK Hutchison"),
parent company of Italian mobile operator 3 Italia, and
VimpelCom Ltd. ("VimpelCom"), parent company of WIND, confirm that
they have received final approval from the Ministry of Economic
Development (Ministero dello Sviluppo Economico or MISE) in
Italy for their 50/50 joint
venture to merge the mobile businesses of 3 Italia S.p.A and WIND
Telecomunicazioni S.p.A. ("WIND").
CK Hutchison and VimpelCom welcome the approval, which means
that the transaction remains on track to complete by the end of the
year. The combined entity will deliver major investment into
Italy's digital infrastructure,
bring benefits to consumers and businesses across Italy and unlock significant value through
synergies.
Disclaimer
This release contains "forward-looking
statements", as the phrase is defined in Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. Forward-looking
statements are not historical facts, and include statements
regarding the joint venture described above and the expected
timing, benefits and completion of such joint venture. The
forward-looking statements included in this press release are based
on management's best assessment of VimpelCom's strategic and
financial position and of future market conditions, trends and
other potential developments. Forward-looking statements involve
inherent risks, uncertainties and assumptions, including, without
limitation, the expected benefits of the joint venture may not
materialize as expected or at all, and the possibility that the
joint venture described above will not be completed. If such risks
or uncertainties materialize or such assumptions prove incorrect,
actual results could differ materially from those expressed or
implied by such forward-looking statements or assumptions. Certain
other factors that could cause actual results to differ materially
from those discussed in any forward-looking statements include the
risk factors described in VimpelCom's Annual Report on Form 20-F
for the year ended December 31, 2015
and other public filings made by VimpelCom with the SEC. The
forward-looking statements included in this press release are made
only as of the date hereof, and VimpelCom disclaims any obligation
to update them or to announce publicly any revision to any of the
forward-looking statements contained in this press release, or to
make corrections to reflect future events or developments.
About VimpelCom
VimpelCom (NASDAQ: VIP) is an
international communications and technology company, headquartered
in Amsterdam, and driven by a
vision to unlock new opportunities for customers as they navigate
the digital world. Present in some of the world's most dynamic
markets, VimpelCom provides more than 200 million customers with
voice, fixed broadband, data and digital services. VimpelCom's
heritage as a pioneer in technology is the driving force behind a
major transformation focused on bringing the digital world to each
and every customer. VimpelCom offers services to customers in 14
markets including Russia,
Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, Laos, and Zimbabwe. VimpelCom, whose licenses cover 10%
of the world's population, operates under the "Beeline", "WIND",
"Djezzy", "Mobilink", "Kyivstar", "banglalink" and "Telecel"
brands. Follow us on Twitter @VimpelCom, visit our blog @
blog.vimpelcom.com or website @
http://www.vimpelcom.com.
About CK Hutchison
CK Hutchison is a multi-national
conglomerate headquartered in Hong
Kong and listed on the Hong Kong Stock Exchange Limited with
270,000 employees in over 50 countries. CK Hutchison has five core
businesses: ports and related services, retail, infrastructure,
energy and telecommunications. The telecommunications division
includes mobile and fixed line operations in Hong Kong and Macau, mobile operations in Indonesia, Vietnam and Sri
Lanka, and in Europe,
mobile operations in Austria,
Denmark, Ireland, Italy, Sweden
and the United Kingdom. For more information visit:
www.ckh.com.hk
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/vimpelcom-and-ck-hutchison-receive-final-regulatory-approval-for-italy-joint-venture-300350372.html
SOURCE VimpelCom Ltd.